Urban Action Community Development (UACD) has been awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund. The NMTC program allows UACD to direct capital to underserved communities nationwide with a focus on projects in Opportunity Zones, emphasizing fresh food, affordable healthcare, quality jobs, and business development, while supporting neighborhood strategies in states struggling with the remnants of industrial flight. This is UACD’s eighth New Market Tax Credit award for a total of $338 million in allocations since their first award in 2007.

"UACD has a 16-year history of implementing strategic reinvestment opportunities that create jobs, businesses and quality services while driving opportunity into disinvested neighborhoods. NMTC are a valuable tool in that work, providing affordable, flexible financing that layers well with other resources.” said Bill Struever, President of UACD. “We are pleased by CDFI Fund’s partnership in our efforts to finance projects that stimulate neighborhood transformation.”

The New Markets Tax Credit was enacted in 2000 in an effort to stimulate private investment and economic growth in low income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, add affordable housing and sustain healthy local economies. NMTCs are a federal tax credit focused on helping to fund projects in economically distressed communities.

Urban Action Community Development is a national Community Development Entity (CDE) that invests in transformational urban neighborhood projects emphasizing technology incubators, health care, social services, and fresh food access with innovative delivery strategies in under-resourced communities. Since UACD’s first NMTC award in 2007, they have maintained and created more than 7,300 permanent jobs, 7,200 construction jobs, and created community services for more than 619,000 low income individuals. UACD is an equal opportunity provider